TATA Power: Bullish Flag Breakout awaited
Diupdate
TATA Power has given breakout (near Rs 80 range) on a weekly time frame "couple of months before". This breakout took time of around 12 years.
It has already RETESTED its weekly support.
There are some fundamental news also floating around.
* Electric Vehicle Boom Era and Green Energy: Its management is working hard to replace it's thermal power plants to the "Fully Green" power generation power plants, so that it won't miss the upcoming boom. It is also working to provide Electric Vehicle charging stations to more and more cities.
Etc.
I am expecting a breakout due to "bullish flag" chart pattern. Remember, the daily candle is invalid if it has more wicks and less body, and it must close higher than the resistance line. Entry can be made after 3:00 PM when the daily candle is nearly closed. SL can be placed below the low of "breakout candle" or below the previous support.
I'll update SL and Target after the breakout.
Disclaimer: Please do your own research before jumping into the trade. Till that, just be a spectator and evaluate how the prices move after the breakout. I already have open positions which I'll hold or exit at my SL.
It has already RETESTED its weekly support.
There are some fundamental news also floating around.
* Electric Vehicle Boom Era and Green Energy: Its management is working hard to replace it's thermal power plants to the "Fully Green" power generation power plants, so that it won't miss the upcoming boom. It is also working to provide Electric Vehicle charging stations to more and more cities.
Etc.
I am expecting a breakout due to "bullish flag" chart pattern. Remember, the daily candle is invalid if it has more wicks and less body, and it must close higher than the resistance line. Entry can be made after 3:00 PM when the daily candle is nearly closed. SL can be placed below the low of "breakout candle" or below the previous support.
I'll update SL and Target after the breakout.
Disclaimer: Please do your own research before jumping into the trade. Till that, just be a spectator and evaluate how the prices move after the breakout. I already have open positions which I'll hold or exit at my SL.
Catatan
I am expecting good up move above Rs 99.20 tomorrow. It won't be an entry though, just wait n watch.Catatan
breakout maybe possible tomorrow above Rs 100.40 provided market is bullish or flat.Catatan
Breakout trade already missed. Let's wait for trendline support at Rs 99 levels. If I don't find suitable entry, I will cancel the trade.Order dibatalkan
Catatan
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